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Home > Business > PTI > Report


Anil Ambani guns for Anand Jain

January 19, 2005 17:23 IST
Last Updated: January 19, 2005 17:26 IST


On the eve of the Board meeting of the Reliance group company IPCL, Anil Ambani has stepped up pressure against Anand Jain, a close associate of his elder brother Mukesh, by demanding an 'independent' report on Jain's business dealings with the company.

Anil, fighting a bitter battle with elder brother Mukesh on the ownership issues of the Reliance empire, wrote to two government directors on the Board of erstwhile PSU, acquired by the Reliance group in 2002, charging that there was conflict of interest between Jain's business activities in IPCL and his position as director.

Anil had put in his papers as vice chairman of IPCL earlier this month saying it would be below his dignity to be on the same Board as Jain.

The Reliance 'ownership issue'

He has suggested to the government directors that an independent professional accounting firm should look into the matter and give its report to the Board.

IPCL Board, headed by Mukesh, would meet in Mumbai on Thursday to consider Anil's resignation and other issues raised by him, including Jain's business dealings may also come up.

The government's nominees on IPCL Board are G S Sadhu and Ramesh Singh. Government sources confirmed the receipt of a letter written by Anil.


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